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Updated about 8 years ago,
Buy or pass? 24 units for 60k
I am a seasoned single family investor that has an interest in parks, and put my first one under contract. Would you do this deal?
Facts:
24 space park, 6 park owned homes liveable, 7 more are not. 100% vacant. Population within 30 minutes is about 30k people. Rural Alabama.
Dirt roads, 10.8 acres. Separate metered utilities.
I bought this for 60k, 10k down, $500/month at 0%.
Would you do this deal?